CANCOM achieved another record result in 2010 and expects further growth in 2011

(PresseBox) ( Jettingen-Scheppach, )
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- Consolidated sales in 2010 of € 549.3 million (+ 30.0%)
- Consolidated EBITDA in 2010 of € 19.2 million (+ 84.6%)
- Consolidated EBIT in 2010 of € 13.7 million (+ 95.7%)

At yesterday's meeting of the Supervisory Board of CANCOM IT Systeme AG, the final figures for the company and the Group were announced. They showed that the provisional figures published on 24 January 2011 had been exceeded.

Underpinned by its strong market position and the economic recovery, the CANCOM Group increased consolidated sales as demand in the IT sector picked up. Sales grew by 30.0% (of which 16.4% is organic growth) to € 549.3 million following € 422.5 million in the previous year. Sales generated by the IT service provider were up 13.0% to € 245.2 million in the e-commerce/trade segment and 48.0% to € 304.1 million in the IT solutions segment. Consolidated gross profits increased by 26.6% from € 119.3 million to € 151.0 million, equating to a gross profit margin of 27.5% (previous year: 28.2%).

Consolidated EBITDA rose 84.6% from € 10.4 million to € 19.2 million, with consolidated EBIT up 95.7% from € 7.0 to € 13.7 million. Overall, CANCOM's consolidated income from the year amounts to € 7.9 million following € 5.1 million in 2009, which, following adjustments, results in earnings per share of € 0.80 (previous year: € 0.49).

"For CANCOM, 2010 was another very pleasing year that will set a trend," says CEO Klaus Weinmann. On behalf of the Executive Board of CANCOM IT Systeme AG, he would especially like to thank the more than 2,000 committed employees Europe-wide of the CANCOM Group.

A healthy balance sheet and greatly improved cash flow

Over the course of the year, the nominal equity capital rose from € 49.3 million to € 51.0 million. Through the increase in nominal equity capital, the higher balance sheet total as a result of strong growth means that, as at 31 December 2010, the equity ratio has fallen slightly on the previous year and stands at 28.7% (2009: 32.5%). Cash and cash equivalents as at 31 December 2010 had continued to grow as against the 2009 reporting date, rising by € 5.7 million to € 31.5 million. CANCOM thus enjoys a solid cash position, which will be used for further acquisitions in the next months.

Cash flow from operating activities also increased considerably year-on-year from € 10.7 million to € 16.9 million.
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